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Everything posted by babesagainstmachines

  1. All I can manage to say ... is I mourn for what might have been. http://en.wikipedia.org/wiki/John_Smith_(UK_politician)
  2. Branston better watch his promises... or he'll end up in a pickle.
  3. The fraud is purely that they call their activities lending, when it is nothing of the sort. It is creating debt money, not lending you other peoples money. As to wether they overcharge or not, I think their cut would be just about fair.... IF there was no central banking to bail them out.
  4. Poddies I'd call them (fits in well with the iPod generation). Property Obsessed Drowning in Debt
  5. "If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." Thomas Jefferson, Letter 1802 to Secretary of the Treasury, Albert Gallatin Just about sums it up.
  6. Good. It needs to kick in fast, before inflation takes hold. For me anyway, being selfish
  7. http://www.rightmove.co.uk/viewdetails-744...=1&tr_t=buy "This property is part of our "No Nonsense November" Campaign. We are adopting the "Scottish" approach which promotes property with a base guideline price and a clear indication of the average (in this case £165,000) which would have been arrived at taking into account several agents opinions, comparable evidence of properties sold of a similar nature in recent months and current market trends. It leaves you, the buyer, to look at properties for their suitability and desirability and to feel comfortable with making an affordable offer which will be considered by the vendors as they are motivated to sell. We recommend that you act without delay to secure a new home for early in the New Year." To my memory, this house has been on the market for at least 4 months and I think it was at £180k. Interestingly, I made 2 offers on properties last year through this agent. I got cold feet on the first one due to it's flood potential (and I was right - it flooded badly this summer) and the second one I was declined in favor an FTB, only to be called a month later asking if I was still interested. By which point I'd decided buying was a total mugs game...
  8. It seems funny to think that in my living memory (25 years) everyone called "hire-purchase" the "Never-Never" and nobody had credit cards. How quickly attitudes have changed to debt. Mind you, I am from Yorskhire, we're a bit renowned for being .. ahem.. "prudent", like the Scots The Yorkshire War-Cry ... HOW MUCH??
  9. It'll be no different to the "normal" state of affairs (ie before the credit crunch). It's central banks setting rates which causes all this boom and bust crap. I'm convinced the world would be a far more stable place without them.
  10. I've been debt free since I paid off the student loan and the car loan I got when I first left Uni. Currently have savings from STR, and managed to spend 2.5 out of the last five years not bothering with work. I'm interested that people say having no debts is liberating, but I find at the moment having substantial savings is just as bad as having a mortgage to look after.
  11. The developer who built these houses must be absolutely pissing themselves at this deal. No land cost, planning guaranteed, probably based on minimal build cost, and they will fly off the shelves because they're "40% cheaper" than everywhere else. Genius!!
  12. Fancy a bet on it? I'll wager £10k at evens on a 10% or more real terms drop (using RPI) Uk average.
  13. Well said that man!! You can trade in absolutely any commodity you want, your legal requirement is only to declare a taxable value for that transaction. This is like raiding Dixon's because people are watching TV without a license...
  14. This is what I don't get. You seem to think that there are loads of cash rich people hanging around just waiting to swoop for property in a falling market. Who are they? FTB? Some will no doubt buy? BTL? Only those who can't do the most basic maths to calculate yield, and have portfolios old enough to have equity to mortgage on. Parental help? They're practically the only FTB with a deposit, rapidly becoming a requirement of the lenders. Holiday cottages? Only affects limited number of properties in desirable locations. Having said all that, 5% with an RPI of 5% equals a 10.25% real terms drop.... which is pretty good for the first leg. So you may not be far wrong. I personally would expect nearer 15% nominal with all the other bad news around.
  15. I fell for that one too.... it takes a while for the monthly figures to come through depending on how fast the paperwork is completed by solicitors. Check it again next month.. there will probably still be a big drop though.
  16. Penfold just said there was room for a rate cut after Christmas ...
  17. Pretty much. Well, very little debt money anyway. Which is why houses were about 500 quid.
  18. Only if they have sold their properties before the crash.
  20. It is a moral hazard. It punishes people who live prudently. It punishes business that grow prudently based on trading profits rather than speculative borrowing. It punishes people who save for their retirement by eroding their spending power. It can never be a good thing for the prudent. Should we reward the reckless?? You say that money is essentially worthless, but that is a nonesense. If I don't pay my council tax, I will be put in prison. I need to earn a minimum of £1100 every year just to not be put in prison. So it's minimum value is that it stops the government from throwing you in jail. Great huh?
  21. Not as dramatic then, but still pointing towards quite a drop... I'd better delete my other thread though
  22. EDIT : I'm being a numpty... nothing to see here!! Move along! PS. unless you can tell me how to delete this topic
  23. This can't be right.... I just checked the number of properties sold by month for Cheltenham where I live. Month by month for 2007... 203, 165, 233, 212, 228, 271, 183, 237 up to August. And september.... 56!!! This leads me to think the data is incomplete.... but if it isn't that's one hell of a brake on the housing market.
  24. Blimey! That link was magic. I looked at the (large) village where my parents live, and the total properties dold per month this year goes like this.... 19, 26, 39, 31, 31, 53, 23, 28 up to August. Then we get to September..... 5 !!!!
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